Core Points - Lion Technology Development Co., Ltd. (Lion Shares) announced on November 15, 2025, that it has completed the response to the Shanghai Stock Exchange's inquiry regarding the issuance of shares and cash payment for asset acquisition and related party transactions [1] - The transaction involves acquiring 97.4399% of Hangzhou Lipo Technology Co., Ltd. from 14 parties, including Wang Xulongqi and Deng Haoyu, through a combination of share issuance and cash payment [1] - The company has revised and improved the restructuring report and application documents in response to the inquiry from the Shanghai Stock Exchange dated September 19, 2025 [1] Approval Process - The transaction is subject to multiple approval processes, including the approval from the Shanghai Stock Exchange and registration consent from the China Securities Regulatory Commission, along with other legal requirements [2] - The company emphasizes that the completion of these approvals is a prerequisite for the transaction, and there is uncertainty regarding whether and when these approvals will be obtained [2]